Pressure Sensitive Tapes Market is Forecasted to Grow at a Rate of 3.9% By 2027 | Reports and Data
Reports and Data estimates the global Pressure Sensitive Tapes competitive landscape is highly fragmented with numerous players operating on a global and regional scale. The key companies in the market are engaged in mergers and acquisitions, joint ventures, collaborations, and product launches to gain a robust revenue growth over the forecast period. The report considers 2020-2021 as historic years, 2020 as the base year, and 2022-2027 as the forecast period. The report offers CAGR and market size for the global Pressure Sensitive Tapes during the forecast period.
The report also offers key insights about the top companies operating in the market and their market share and global position along with product portfolio and advancements. The top companies in the market include Scapa Group PLC, Sika AG, Arkema Group, DOW Corning, 3M, H.B. Fuller, Avery Dennison Corporation, Tesa, Intertape, and Henkel AG & Company KGAA
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Pressure Sensitive Tapes Overview :-
The global Pressure Sensitive Tapes market is forecasted to grow at a rate of 3.9% from USD 60.38 billion in 2019 to USD 82.94 billion in 2027. Pressure Sensitive Tapes are broadly used for sealing, stationery, packaging, labeling, and other general-purpose applications. The market is witnessing a huge demand due to the automotive industry’s growth, where the product finds applications in the joining of doors, roofs, and glass. Increasing demand for transportation is leading to a rise in the production capacities of aircraft makers, which leads to an extension of contracts between manufacturers and material suppliers. Moreover, the rate of aircraft replacement will be high in the next 20 years, which will lead to an increased number of aircraft being produced. This is expected to drive the market for Pressure Sensitive Tapes, as these are extensively used in making aircraft.
Specialty Tapes occupied 29.4% of the market share in 2019. This is primarily due to the increasing demand for specialty products from the automotive industry, where the increasing importance of vehicle light-weighting leads to an increased demand for the product. There is increasing use for foam-based specialty tapes for noise-reflection, anti-vibration, and bonding applications, which is expected to drive the growth for the segment.
Packaging Tapes occupied the largest market share of 48.4% in 2019. These are generally made with plastic as the backing material. These provide benefits, such as superior flexibility and easy tearing ability. Growing manufacturing and shipping activities of consumer goods are leading to greater consumption of packaging products. Moreover, the product offers cost-effectiveness along with superior packaging. This is expected to drive market growth further.
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For the purpose of this report Reports and Data has segmented global Pressure Sensitive Tapes market on the basis of type, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Specialty Tapes
- Packaging Tapes
- Consumer Tapes
Material Outlook (Revenue, USD Billion; 2017-2027)
- Polyvinyl Chloride
- Polyethylene Terephthalate (PET)
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- White Goods
- Paper and Printing
- Retail and Graphics
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
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Key Questions answered by the Report:
- What is the expected year-on-year growth of the Pressure Sensitive Tapes during the forecast period?
- What key trends are expected influence revenue growth of the market going ahead?
- Which region is expected to account for largest revenue share over the forecast period?
- Which key companies are profiled in the report?
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